Although I still very much doubt it would create an equal comp, that is not the biggest issue.Mate I have been pushing this idea for over a decade and every time I mention it I get smashed by non believers. You will not get an equal comp till everyone is playing on the same field. The cap has been more effective in the last couple of years bringing teams closer together but there is still a gap between a few clubs at the top and the rest of the pack.
How do you possibly create a fair point system that doesn't under-rate/over-rate players? For the players a point system over-rates, how do they then get a fair contract given they will be a points liability? Won't the players under-rated by a point system still only go to the more powerful/cashed up clubs?
These are just the more obvious questions but I could ask plenty more. I'm happy to listen to any actual points system plan out forth but I've never seen anyone put up any without countless flaws that the proposer can't suggest a work around.